Why General Motors Stock Is Surging Today
Shares of General Motors (NYSE: GM) were moving higher on Monday, after a Deutsche Bank analyst argued that GM should spin off its electric-vehicle (EV) business.
As of 1:30 p.m. EDT, GM's shares were up about 9.9% from Friday's closing price.
In a note released on Monday morning, Deutsche Bank analyst Emmanuel Rosner added GM to the bank's "short-term catalyst call buy list," a list for stocks that could jump in price on significant news in the near term. Rosner thinks that it's possible that GM could spin off its electric-vehicle business, creating a separate company (and stock) that might have a valuation closer to that of Tesla -- a potential boon for existing GM shareholders, who would presumably receive shares of the spun-off company.
Source Fool.com
